One common question Filipino PayPal users have is how will they get their money (pano nila mahahawakan ang pera) from PayPal if they used Gcash. I totally understand their concern.
You see, when you have PayPal funds, this is considered as virtual currency that is good as cash. However, being virtual, PayPal funds can only be used to transact online. This means that you can buy things in the internet (such as online stores, eBay, etc…) using your PayPal funds.
However, if you want to convert your PayPal funds to actual money (money that you can hold and use physically), then you have to withdraw or transfer your PayPal funds to a local financial institution (such as a local bank, BPI, or Gcash).
Of course, since money is involved, there would always be that worry or concern if the money will arrive or not. Obviously, the uncertainty will increase if the PayPal amount to be transferred is big (say more than $100) and processing time would always be a factor (the amount of time for the PayPal funds to arrive at your local account).
Fortunately, Gcash offers a huge convenience of doing this. If you would look around at this site, you will find all the things that you need to set-up Gcash to receive your PayPal funds. But in the rare chance that you don’t, feel free to leave a comment or a question and I will be glad to assist you.
Anyway, here are the steps on how to transfer your PayPal funds to your Gcash account.
1. An account on both PayPal and Gcash.
Readers who don’t have an account in PayPal, go to PayPal’s website and create one.
Readers who don’t have a Gcash account, please be advised that the service is free for any Globe and TM postpaid or prepaid user. Simply go to a Globe store, and the Globe agents would be more than willing to assist you create a Gcash account.
VERY IMPORTANT: While at the Globe store, be sure to have your account KYC’d. To know more about KYC, read Steps to be Gcash KYC
2. Download the Gcash App on the Playstore.
3. Using the Gcash app, link your PayPal account to Gcash (for a detailed step by step process to link your PayPal to Gcash, read Main Requirement: How to Link PayPal to Gcash)
4. Once the PayPal account is successfully linked to Gcash, the user may now transfer PayPal funds to Gcash via the Cash-In option. Check this out for a detailed and step by step process on how to Cash-In PayPal to Gcash
5. If the Cash-In (transferring PayPal to Gcash) is done, you should receive different notifications or confirmations of the transaction.
6. Your Gcash current amount balance would now reflect the PayPal funds converted to local currency.
7. You may now withdraw the money to any Bancnet ATMs in the country using your Gcash Mastercard.
That’s it. Thanks to Gcash, you can now hold physical cash from your virtual money from PayPal.
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